Open Text Corporation (USA) (OTEX) is Reiterated by RBC Capital Mkts to Outperform, Raises Price Target to $ 70

Open Text Corporation (USA) (OTEX) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 70 from a previous price target of $60 . RBC Capital Mkts advised their investors in a research report released on Jun 21, 2016.

Many Wall Street Analysts have commented on Open Text Corporation (USA). Company shares were Reiterated by The Benchmark Company on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 65 from a previous price target of $55 .Open Text Corporation (USA) was Initiated by TD Securities to “Buy” on Apr 4, 2016.

On the company’s financial health, Open Text Corporation (USA) reported $0.80 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $0.84. The company had revenue of $440.50 million for the quarter, compared to analysts expectations of $450.99 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.66 EPS.

Open Text Corporation (USA) opened for trading at $59.12 and hit $60.51 on the upside on Monday, eventually ending the session at $60.3, with a gain of 3.09% or 1.81 points. The heightened volatility saw the trading volume jump to 5,82,120 shares. Company has a market cap of $7,314 M.

Open Text Corporation is a Canada-based company operating in enterprise information market (EIM). The Company provides software products and services to organizations in finding utilizing and sharing business information. The Company’s products and services include enterprise content management (ECM) business process management (BPM) customer experience management (CEM) information exchange (iX) discovery and analytics and reporting. Its ECM solutions include content management archiving and core among others. Its BPM solutions include process suite platform capture and recognition systems and process suite solutions. Its CEM solutions include Web content management digital asset management and portal. Its iX solutions include business-to-business (B2B) integration fax solutions and secure messaging. Its discovery solutions include search and InfoFusion. Its analytics and reporting solutions include embedded analytics and reporting and advanced analytics.

Open Text Corporation (USA)

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